One evening I would recommend going down to the Bund (easy to access). Have dinner at Lost Heaven (reasonably priced, good atmosphere, bookings essential). After dinner take in the Bund with the lights at night, then go for a drink at the Long Bar at the Waldorf Astoria (about 20 yards away from Lost Heaven). The Long Bar is a restored 1920's bar, live music, great service, good cocktails and very reasonably priced by Western standards.

Have you sorted accommodation? You may want to concider somewhere like the Astor House. It's on the Bund, but a little walk from the main drag. It's an historic hotel with lots of atmosphere. Quirky though! But very well priced. Available on most booking engines.